$1mm+ and $10mm+ bonuses at hedge funds (junior analysts)

Sometimes you hear about ridiculous payouts of $1mm+ to certain hedge fund analysts very earlier on their career (mid 20s, after 2 years of banking or 2+2) because the stars aligned in that the fund was large and had strong returns for the year and the analyst contributed a material amount to the P&L.

I know that it is rare, but do you guys have a sense of how often that happens? I would think this may apply to some of the top hedge funds with high headcount relative to AUM.

I have also heard of $5-10mm payouts at the extreme high end... how often does that happen?

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